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  • D – Debt waiver

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    If an employee is in debt to you and you release the employee from the obligation to repay the debt, the unpaid amount is a debt waiver fringe benefit. Show the amount of this kind of benefit at item D.

    A debt owed by an employee that your write off as a genuine bad debt is not a debt waiver fringe benefit.

    Example: Complete debt waiver fringe benefits

    An employer waives a $500 debt that an employee owed from a previous year.

    The employer shows this at item 23 as follows:

    Example of employer entry at item 23

    End of example
    Last modified: 23 Oct 2013QC 27133